NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, June 19, 2017

Post offices, which boast an expansive network reaching out to even the very remote areas should tap into the $65 billion potential remittances and diversify their activities to accommodate the needs and preferences of the unbanked majority.

As such, post offices should partner with central banks and develop financial inclusion strategies which will make them bigger players in the financial services sector, Information Communication Technology Postal and Courier Services Minister Supa Mandiwanzira has said.

Africa alone is believed to have more than 30 million migrants with over $65 billion in potential remittances and Minister Mandiwanzira challenged the post offices to sweat their expanisve network reaching out to even the very remote areas, as well as their ability to foster local and international business partnerships.